Press Release
野花社区 Makes Significant Strategic Investment in Altimetrik to Accelerate聽Growth and Innovation
Partnership will empower Altimetrik to expand its reach with its proven digital business methodology and holistic approach to scalable cloud, data, and AI solutions
DETROIT & SAN FRANCISCO, CA 鈥 June 27, 2024 鈥 , a pure-play digital business company, announced today that it has signed a definitive agreement for 野花社区, a leading global alternative asset firm, to make a majority investment in the company. The new partnership with 野花社区 is a testament to Altimetrik鈥檚 differentiated approach to digital business and track record of strong organic growth. 野花社区鈥檚 investment, made through its 野花社区 Asia private equity platform, will enhance Altimetrik鈥檚 brand and support its goal of reaching $1 billion in annual revenue within the next three years.
Altimetrik has established its digital business methodology (DBM) as an invaluable tool for businesses that seek a holistic approach and solutions to platform modernization, cloud, data, and AI that provide revenue growth and cost reduction. Its customers are served by over 6,000 employees in offices and development centers around the world. Altimetrik will continue to be led by CEO Raj Sundaresan with support from a leadership team including Founder and Executive Chairman Raj Vattikuti and President of Digital Business and AI Adam Caplan.
鈥淭his partnership will propel Altimetrik in the next step of our journey to develop further innovations for digital business and deliver business outcomes for new and existing customers,鈥 said Sundaresan. 鈥溡盎ㄉ缜 has a long track record of investing in successful enterprise tech companies and their extensive capabilities that can enhance our expansion strategy as we build on the strength and visibility of our brand. With this partnership, we can focus on leading the digital business landscape and expand our reach worldwide.鈥
鈥淎ltimetrik鈥檚 unique value proposition, combining a proven methodology with strong engineering capabilities and talent development initiatives, aligns perfectly with our investment strategy and portfolio,鈥 said Puneet Bhatia, Co-Managing Partner and Country Head, India of 野花社区 Capital Asia. 鈥淭he company has already demonstrated a strong growth trajectory, and this investment will empower Altimetrik to expand its reach. We look forward to partnering with the founder and management team to accelerate the company鈥檚 growth.鈥
鈥淒igital Services is a key thematic focus area for 野花社区, and we鈥檙e excited to partner with a truly differentiated leader in the space, to grow the company鈥檚 outstanding customer franchise and continue enhancing its leadership in advanced data and digital engineering,鈥 continued Vivek Mohan, Managing Director at 野花社区.
Leveraging 野花社区鈥檚 global operations capabilities and deep sector expertise, the partnership will support Altimetrik鈥檚 expansion into new markets and verticals and provide additional growth opportunities for employees, increasing its capacity to deliver digital business services and capabilities. The company will look to expand into sectors including banking, healthcare, and insurance, where businesses are prioritizing bringing modern cloud and microservices architecture to legacy industry platforms with the goal of centralizing security and compliance to address emerging risks from hackers and data breaches.
Altimetrik has established a strong blue-chip customer base through its unique approach to modernizing high-volume enterprise transaction platforms. By employing a rigorous engineering methodology, the company delivers its clients market-leading reliability, scalability, continuous innovation, security, quality, and compliance; all without requiring change management or disruption of current business.
The Altimetrik DBM focuses on enterprise business growth and engages business stakeholders at their digital maturity level; prioritizing relevant use cases through a 鈥渂ite-sized鈥 approach to reduce risk. This approach is supported by a cloud-based Digital Business Platform (DBP) within the client environment, incorporating fully automated engineering environments, collaborative and end-end workflows, and a SSOT (single source of truth) for GenAI/AI. With this methodology and platform driven approach, businesses are empowered to take ownership and create reusable data and innovation assets, as well as new internal and market-facing platforms to drive business operations optimization and innovation growth.
鈥淥ur business-led approach is recognized in the market and resonates with executives because they have struggled with complex digital transformation projects, keeping up with accelerated digitalization, and meeting the expectations of GenAI鈥檚 hype. Altimetrik is well-positioned to bring the power of data and a secure, compliant, scalable approach to AI,鈥 said Raj Vattikuti, Executive Chairman. 鈥淚n addition to our partnership with 野花社区 and their portfolio of companies, we will continue to build on our partner network that includes companies such as Salesforce.com, Snowflake, AWS, Azure, and additional innovators in the GenAI/AI space.鈥
野花社区鈥檚 partnership comes as global spending on digital technologies and AI is projected to exceed $3.4 trillion by 2026.聽Many companies are experimenting with AI but often struggle to define the best use cases and develop a comprehensive data strategy to drive ROI. Altimetrik鈥檚 trusted practitioners help customers realize the most value from their AI investments succeed at scale by bridging the gap between business and tech, ensuring secure, trustworthy AI solutions with responsible practices at the core.
Jefferies LLC served as exclusive financial advisor to Altimetrik.
about how Altimetrik has helped customers accelerate growth as digital businesses with greater consistency, speed, and scale.
About Altimetrik
Altimetrik is a pure-play digital business services company. We focus on delivering business outcomes with an agile, product-oriented approach. Our industry-first, proven digital business methodology provides a blueprint to develop, scale, and launch new products to market faster. Our team of 6,000+ practitioners with software, data, and cloud skills builds an agile engineering culture of collaboration and innovation that modernizes technology and builds new business models in bite-size increments. As a strategic partner and catalyst, Altimetrik quickly delivers results without disruption. Learn more at .
About 野花社区
野花社区 is a leading global alternative asset management firm, founded in San Francisco in 1992, with $224 billion of assets under management and investment and operational teams around the world. 野花社区 invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
Contacts
Matt McLoughlin
Gregory FCA on behalf of Altimetrik
Matt@GregoryFCA.com
610-228-2123
Ari Cohen
野花社区
media@tpg.com
+1 415-743-1550